DAILY TECHNICAL REPORT

Transcription

1 RESEARCH TEAM DAILY TECHNICAL REPORT DISCLAIMER & DISCLOSURES Please read the disclaimer and the disclosures which can be found at the end of this report

2 EUR / USD Moving higher. EUR/USD has been range-bound after piercing yet remains in a downtrend channel. The technical structure is clearly negative. Hourly support is given at (23/11/2015 low). Hourly resistance can be found at (19/11/2015 high). Stronger resistance stands at (05/11/2015 high). Expected to show consolidation of the pair. In the longer term, the technical structure favours a bearish bias as long as resistance holds. Key resistance is located region at (range high) and (11/11/2005 low) is likely to cap any price appreciation. The current technical deteriorations favours a gradual decline towards the support at (21/03/2003 low). Page 2 14

3 GBP / USD Consolidating. GBP/USD is holding below Hourly support at (23/11/2015 low) has been broken. Hourly support lies at (06/11/2015 low). Strong resistance can be found at (22/09/2015 high). Expected to show continued weakness. The long-term technical pattern is negative and favours a further decline towards the key support at , as long as prices remain below the resistance at /64 (04/11/2015 low see also the 200 day moving average). However, the general oversold conditions and the recent pick-up in buying interest pave the way for a rebound. Page 3 14

4 USD / JPY Momentum reversal. USD/JPY has reversed recent bullish momentum, correcting sharply lower. Support is located at (16/11/2015 low). Expected break of the support at A long-term bullish bias is favored as long as the strong support at (16/12/2014 low) holds. A gradual rise towards the major resistance at (01/02/2002 high) is favored. A key support can be found at (24/08/2015 low). Page 4 14

5 USD / CHF Fading momentum. USD/CHF is targeting again the hourly support at (18/11/2015 low). Hourly resistance is given at (23/11/2015 low). The technical structure still suggest that the upside momentum is at stake. Expected to show reversed momentum. In the long-term, the pair has broken resistance at and key resistance at suggesting further uptrend. Key support can be found (30/01/2015 low). As long as these levels hold, a long term bullish bias is favoured. Page 5 14

6 USD / CAD Monitoring uptrend channel. USD/CAD remains in the uptrend channel even if the technical structure indicates deeper downside correction. Significant supports stand at (12/11/2015 low) and resistance lies at (29/09/2015 high). Expected to recover as uptrend is still in play. In the longer term, the break of the key resistance at (13/03/2009 high) has indicated increasing buying pressures, which favours further medium-term strengthening. Support can be found at (15/10/2015 low) then (06/01/2015 low). Page 6 14

7 AUD / USD Further bullish gains. AUD/USD's momentum is growing. Hourly support lies at (08/11/2015 low) and the break of the hourly resistance at (20/11/2015 high) confirms the strength of the bullish momentum. Expected to show increasing buying interest. In the long-term, there is no sign to suggest the end of the current downtrend. Key supports stand at (31/10/2008 low). A break of the key resistance at (15/01/2015 high) is needed to invalidate our long-term bearish view. In addition, we still note that the pair remains well below the 200-dma which confirms selling pressures. Page 7 14

8 EUR / CHF Moving sideways. EUR/CHF is trading without any real direction. Yet, a bearish bias is still favoured given the recent lower highs. Hourly support lies at (28/08/2015 low). Resistance can be found at (declining channel resistance). Expected to further decline. In the longer term, the technical structure remains negative as long as prices remain below the resistance at (02/09/2011 low). The ECB's QE programme is likely to cause persistent selling pressures on the euro, which should weigh on EUR/CHF. Supports can be found at (28/01/2015 low) and (27/01/2015 low). Page 8 14

9 EUR / JPY Bearish consolidation. EUR/JPY's momentum is still bearish despite bearish pause. Hourly support can be located at (intraday low). The pair is nonetheless currently moving sideways. Hourly resistance lies at (30/10/2015 high). Stronger resistance is located at (17/09/2015 high). Expected to show continued weakness. In the longer term, the break of the support at validates a medium-term succession of lower highs and lower lows. As a result, the resistance at (08/12/2014 high) has likely marked the end of the rise that started in July Key supports stand at (13/06/2013 low) and (25/02/2013 low). A key resistance can be found at (04/06/2015 high). Page 9 14

10 EUR / GBP Targeting resistance at EUR/GBP's short-term bullish momentum is growing. Hourly support lying at (17/11/2015 low) has been broken. Resistance can be found at (12/11/2015 high). Expected to test again support at In the long-term, prices are in an underlying declining trend. The general oversold conditions suggest a limited medium-term downside potential. A key resistance lies at (03/02/2015 high). Page 10 14

11 GOLD (in USD) Bouncing back from Gold has bounced back from 1081 which indicates continued bearish momentum. Support is given at 1045 (05/02/2015 low) and hourly resistance is given at 1110 (06/11/2015 high). Expected to show further weakness. In the long-term, the underlying downtrend (see declining channel) continues to favour a bearish bias. A break of the resistance at 1223 is needed to suggest something more than a temporary rebound. A major support can be found at 1045 (05/02/2010 low). Page 11 14

12 SILVER (in USD) Short-term bearish. Silver is up for the third day in a row. Yet, the metal is struggling to go any higher and next resistance at (declining channel) seems far. Expected to show continued weakness toward hourly support at 14. In the long-term, the break of the major support area between (30/05/2014 low) and (28/06/2013 low) confirms an underlying downtrend. The strong support at (05/02/2010 low) has been broken and prices have then consolidated. A key resistance stands at (16/09/2014 high). Page 12 14

13 Crude Oil (in USD) Continued strong bullish rally off support. Crude oil has been able to stage a solid rally above broken support at (16/11/2015 low). Yet the commodity is still within the 2-week range indicating a reversal is possible. Resistance at (23/11/2015 high) has been cleared. Yet, the medium-term technical structure is clearly negative in a context of oil oversupply. Expected to show continued weakness. In the long-term, crude oil has not shown signs of recovery. Strong support lies at (24/08/2015) and (18/08/2015 low). Expect Nonetheless, crude oil is holding way below its 200-Day Moving Average (setting up at 50). Any break of the resistance at (05/07/2015) would confirm an underlying uptrend. Page 13 14

14 DISCLAIMER While every effort has been made to ensure that the data quoted and used for the research behind this document is reliable, there is no guarantee that it is correct, and Swissquote Bank and its subsidiaries can accept no liability whatsoever in respect of any errors or omissions, or regarding the accuracy, completeness or reliability of the information contained herein. This document does not constitute a recommendation to sell and/or buy any financial products and is not to be considered as a solicitation and/or an offer to enter into any transaction. This document is a piece of economic research and is not intended to constitute investment advice, nor to solicit dealing in securities or in any other kind of investments. Although every investment involves some degree of risk, the risk of loss trading off-exchange forex contracts can be substantial. Therefore if you are considering trading in this market, you should be aware of the risks associated with this product so you can make an informed decision prior to investing. The material presented here is not to be construed as trading advice or strategy. Swissquote Bank makes a strong effort to use reliable, expansive information, but we make no representation that it is accurate or complete. In addition, we have no obligation to notify you when opinions or data in this material change. Any prices stated in this report are for information purposes only and do not represent valuations for individual securities or other instruments. This report is for distribution only under such circumstances as may be permitted by applicable law. Nothing in this report constitutes a representation that any investment strategy or recommendation contained herein is suitable or appropriate to a recipient s individual circumstances or otherwise constitutes a personal recommendation. It is published solely for information purposes, it does not constitute an advertisement and is not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments in any jurisdiction. No representation or warranty, either express or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, except with respect to information concerning Swissquote Bank, its subsidiaries and affiliates, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in the report. Swissquote Bank does not undertake that investors will obtain profits, nor will it share with investors any investment profits nor accept any liability for any investment losses. Investments involve risks and investors should exercise prudence in making their investment decisions. The report should not be regarded by recipients as a substitute for the exercise of their own judgment. Any opinions expressed in this report are for information purpose only and are subject to change without notice and may differ or be contrary to opinions expressed by other business areas or groups of Swissquote Bank as a result of using different assumptions and criteria. Swissquote Bank shall not be bound or liable for any transaction, result, gain or loss, based on this report, in whole or in part. Research will initiate, update and cease coverage solely at the discretion of Swissquote Bank Strategy Desk. The analysis contained herein is based on numerous assumptions. Different assumptions could result in materially different results. The analyst(s) responsible for the preparation of this report may interact with trading desk personnel, sales personnel and other constituencies for the purpose of gathering, synthesizing and interpreting market information. Swissquote Bank is under no obligation to update or keep current the information contained herein and not liable for any result, gain or loss, based on this information, in whole or in part. Swissquote Bank specifically prohibits the redistribution of this material in whole or in part without the written permission of Swissquote Bank and Swissquote Bank accepts no liability whatsoever for the actions of third parties in this respect. Swissquote Bank All rights reserved. Page 14 14

RESEARCH TEAM DAILY TECHNICAL REPORT DISCLAIMER & DISCLOSURES Please read the disclaimer and the disclosures which can be found at the end of this report EUR / USD Selling pressures are still strong. EUR/USD

Australia FX Pick:AUD/USD Nov private sector credit rose 5.9% YoY, as expected. AUD/USD was consolidating in a range of 0.8122-0.8203 levels. AUD/USD s short-term support is at 0.8070, and resistance is

Chapter 1.1 The Forex Market 0 THE FOREX MARKET The Forex market is the largest financial market in the world. Nearly $3.2 trillion worth of foreign currencies trade back and forth across the Forex market

Chapter 1.1 The Forex Market 0 THE FOREX MARKET The Forex market is the largest financial market in the world. Nearly $3.2 trillion worth of foreign currencies trade back and forth across the Forex market

Chapter 1.2 Currencies Come in Pairs 0 GETTING STARTED You know the advantages of trading forex, and you are excited to start trading. Now you need to learn what this market is all about. How does it work?

Commodities not finding much traction despite USD weakness Commodities continued to show weakness into the second week of 2013 despite rising stock markets and a falling US dollar. Investors are generally

Chapter 2.3 Technical Analysis: Technical Indicators 0 TECHNICAL ANALYSIS: TECHNICAL INDICATORS Charts always have a story to tell. However, from time to time those charts may be speaking a language you

Chapter 1.1 The Forex Market 0 THE FOREX MARKET The Forex market is the largest financial market in the world. Nearly $3.2 trillion worth of foreign currencies trade back and forth across the Forex market

Using Binaries for Short Term Directional Trading Using Binaries for Short Term Directional Trading Binaries can be used to take an intra-day directional view on underlying markets, allowing the trader

INTERMEDIATE 6. Get Top Trading Signals with the RSI The Relative Strength Index, or RSI, is one of the most popular momentum indicators in technical analysis. The RSI is an oscillator that moves between

KE Forex Product Term Sheet ** Please note that Page 1-5 is for your reference, and only Page 7 is required to be completed and returned. What is leveraged trading in Forex (Foreign Exchange) Contracts?

Daily Commodity Report Daily Metals & Energy update Gold was mired near a three-month low on Tuesday on expectations the U.S. Federal Reserve was well on track to raise interest rates before the end of

1 Chapter 4.1 Intermarket Relationships 0 Contents INTERMARKET RELATIONSHIPS The forex market is the largest global financial market. While no other financial market can compare to the size of the forex

FxPro Education Within any economy, consumers and businesses use currency as a medium of exchange. In the UK, pound sterling is the national currency, while in the United States it is the US dollar. Modern

Chapter 1.2 Currencies Come in Pairs 0 GETTING STARTED You know the advantages of trading forex, and you are excited to start trading. Now you need to learn what this market is all about. How does it work?

Forex Trading Radar Daily Forecast or improper use of this informational Prospectus by any user. Please visit https:///disclosure-.html for Full Disclosure. December 2, 2015 Please Note, the FGC Dollar

Toms Market Outlook and Trade Alerts for Oct 19 th, 2014 Message from Tom I believe the markets have finally cooled their selling ways, partly due to the fact that Ebola is not a concern like people thought

Important Notice Foreign currency trading involves a substantial risk of loss and may not be suitable for all investors. CMS, its affiliates, employees, agents, successors, and assignees are released from

Introduction to Forex Trading The Leader in Rule-Based Trading 1 Important Information and Disclaimer: TradeStation Securities, Inc. seeks to serve institutional and active traders. Please be advised that

Saxo Academy SaxoTraderGO Trading Forex on Live Prices Please note, these notes are transcripts of the videos on Saxo Academy and are designed to accompany the SaxoTraderGO video series. Making an FX Spot

CHART TRADING GUIDE 1 How to understand chart trading This guide is designed to teach you the basics of chart trading- the chart patterns that are covered in this booklet can be used for short and medium

Chapter 2.4 Multiple Time Frames 0 Contents TRADING USING MULTIPLE TIME FRAMES Traders of virtually every monetary size and temperament trade the Forex market. At any given time, short-term scalpers and

Daily Commodity Report Daily Metals & Energy update Gold held below a three-week high after sinking oil prices and equities spurred the longest run of daily gains since October as investors awaited minutes

What is a Forex? Forex is the market where one currency is traded for another Unlike stocks and futures exchange, foreign exchange is indeed an interbank, over-the-counter (OTC) market which means there

Lesson 1 The Forex Market The Foreign Exchange market, also referred to as the "FX market" or "Spot FX", is the largest financial market in the world with daily average turnover of US$1.9 trillion. Unlike

Investment Research General Market Conditions 27 January 2016 FOMC review Less confident Fed likely to stay on hold in March as well As expected, the Fed funds target rate was unchanged at 0.25%-0.50%.

Disclaimer Confidential IMPORTANT NOTICE: By attending the meeting where this presentation is given, or by reading the presentation slides, you agree to be bound by the following limitations and qualifications:

Introduction to Forex Trading The Leader in Rule-Based Trading 1 Important Information and Disclaimer: TradeStation Securities, Inc. seeks to serve institutional and active traders. Please be advised that

This document has been provided by the International Center for Not-for-Profit Law (ICNL). ICNL is the leading source for information on the legal environment for civil society and public participation.

An Introduction to Nadex AN INTODUCTION TO NADEX MULTIPLY YOUR TRADING OPPORTUNITIES, LIMIT YOUR RISK Discover a product set that: Allows you to trade in very small size (risking no more than a few dollars)

From KBC Market Research Desk - More research on www.kbc.be/dealingroom EUR/USD:(1.3515) Back in LT channel of 1.877 and in Bullish Flag (see graph) FOREX EUR=, (1.35150003, 1.35189998, 1.35130000, 1.3514000,

A Sharekhan technical research newsletter For 30, 2016 Punter s Call Bulls say happy weekend Market on 27, 2016: Support at 8040 The Nifty opened on a flat note and ended the trading session near the high

DEALING HANDBOOK FOR FX TRADERS ONLINE TRADING Trading on the QuestradeFX platforms is available 24hrs a day from 5pm ET Sundays through 5pm ET Fridays. Clients have the ability to execute trades directly

Pyramid A 1/1/2014 Trade Management Methodology By Andrew Heng, Senior Analyst NUS Students Investment Society NATIONAL UNIVERSITY OF SINGAPORE Pyramid A Method of Trade Management What does it mean to

Brussels, 25 September 2007 PRESS RELEASE Triennial survey on the foreign exchange and derivatives markets: results for Belgium In April 2007, fifty-four central banks and monetary authorities, including

CIO Flash U.S. Fed tapering 19 December 2013 The art of tapering without spoiling markets (I) Final decision and first reaction Taper light, with strengthened forward guidance The Federal Open Market Committee

Subscriber s Guide The DT Daily Forex Report The DT Daily Forex Report is for swing and short term traders who look for positions that typically last at least a few days and day traders who key off the

Saxo Academy Stocks: Quick-start guide part 3 - Orders & Tickets academy.tradingfloor.com 1. By clicking on one of the icons you can place a related Limit order and Stop order respectively. Once you have

LPL RESEARCH WEEKLY MARKET COMMENTARY KEY TAKEAWAYS Using intermarket analysis is important to reduce the risk of missing vital directional clues within the financial markets. Recently, a strong U.S. dollar

Technical Analysis in Vietnam s Equity Market This article analyses the usefulness of technical analysis in Vietnam s equity market. It starts of by giving a brief overview of the equity market and some

Best Times to Trade Forex The Forex Market The forex market is the largest financial market in the world, trading around $3.1 trillion each day. (Every three years, the Bank of International Settlements

Chapter 1.1 The Forex Market 0 THE FOREX MARKET The Forex market is the largest financial market in the world. Nearly $3.2 trillion worth of foreign currencies trade back and forth across the Forex market

BEST TIMES TO TRADE THE FOREX MARKET The forex market is the largest financial market in the world, trading around $3.1 trillion each day. (Every three years, the Bank of International Settlements (BIS)

Chapter 3.4 Forex Options 0 Contents FOREX OPTIONS Forex options are the next frontier in forex trading. Forex options give you just what their name suggests: options in your forex trading. If you have